All Entries Tagged With: "Obama"
Federal and Private Student Loans Exceeded Total Credit Card Debts
The newly conducted research shows that the Americans student loans debt was more than credit card debt in the United States. According to the latest Federal Reserve Board report, Americans owed $826.5 billion on their credit cards in June. And according to Mark Kantrowitz of FinAid.org, Americans currently owe $829.8 billion in student loan debt. [...]
Obama Planning to Increase College Graduation Rates by Making College Affordable
President Obama visited University of Texas, Austin Monday, and he reiterated a goal he made in his February 2009 speech to a joint session of Congress to put the U.S. on course to once again become the world leader in producing college graduates. Obama promised that funds that were saved through streamlining the federal student [...]
President Obama Revamped Student Loan Consolidation
President Obama facilitated the expansion and development of the student loan consolidation through the Health Care and Education Reconciliation Act of 2010, which includes Student Aid and Fiscal Responsibility Act that was signed into a law by the U.S President on March 30, 2010. Because of the certain changes in the new student loan reform [...]
U.S. Unemployment rate Stable at 9.5% in July
The U.S. unemployment rate held firm at 9.5% as various companies and employers remained nervous to hire new staff and the U.S. economy shed approximately 131,000 jobs. Additionally, the state and local governments laid off countless workers due to major budget deficit. Last Friday the U.S. Labor Department said that the U.S. economy obtained 71,000 [...]
Obama Says Health Reform Strengthened Medicare
President Barack Obama made a statement that Medicare, government health insurance program specially designed for senior citizens, will live for many more years. President Obama, in his weekly radio and Internet address, says the overhaul of U.S. health-care policy has helped Medicare stay sustainable for years to come because of the new law. “We’ve made [...]
Social Security Trust Fund to be Exhausted by 2037
Social Security Administration recently announced their year end report of the Social Security trust funds status. The report claimed that the Social Security trust funds are expected to be exhausted in 2037, the same date as in last year’s report. The Social Security report noted that achieving the health care savings in order to expand [...]
U.S Treasury Department Pledges Quick Action on Obama’s New Financial Reform Bill
Last Monday U.S. Treasury Secretary Timothy Geithner said the Obama administration is gearing for an immediate clarification of its new financial rules outlined in a law that was passed by the senate last month. “We will move as quickly as possible to bring clarity to the new rules of finance,” Geithner said and added: “The [...]
Fannie Mae Mortgage Launched New Website to Help Homeowners to Avoid Foreclosure
Fannie Mae successfully created and launched a new website aims to provide support to struggling homeowners by providing vital information that might be the key to solve various housing and mortgage problems. The new Fannie Mae website supported both English and Spanish languages, as well as provided an efficient ways to contact their mortgage company [...]
Bush Tax Cuts Extension won’t Create Jobs and Rebuild the Economy
Alan Blinder, professor and co-director of Princeton University’s Center for Economic Policy Studies, recently stated that the extension of Bush tax cuts will not produce jobs as it will increase the gap of the people class, the poor and the rich. The 63-year-old economist posted a statement on Huffington Post website: ”Some have a lot [...]
Historic Wall Street Reform Bill Signed into Law by Obama
President Barack Obama inked the historical Restoring Financial Stability Act into law on Wednesday, Jul 21. “Because of this law, the American people will never again be asked to foot the bill for Wall Street’s mistakes,” Obama said at a signing ceremony. “There will be no more taxpayer-funded bailouts. Period.” The recently signed law is [...]